Copernican International Premium Dividend Fund

April 18, 2008 16:41 ET

Copernican International Premium Dividend Fund-Distribution, April 2008

BURLINGTON, ONTARIO--(Marketwire - April 18, 2008) - Copernican International Premium Dividend Fund (TSX:CPM.UN) (the "Fund") today announced the reinstatement of a cash distribution in the amount of $0.03547 per unit of the Fund which will be paid on May 15, 2008 to unitholders of record as of April 30, 2008.

As stated in the declaration of trust of the Fund, Copernican Capital Corp. (the "Manager") may suspend distributions on the Trust Units if the Net Asset Value per Trust Unit would be less than $7.50 after giving effect to such distributions, other than any distributions required so that the Fund will not be liable for income tax under the Income Tax Act. Due to the decline in the Net Asset Value of the Fund, no distribution was previously paid to unitholders of record as of February 29, 2008 and March 31, 2008.

The Fund's intention is to pay monthly distributions of $0.0583 per unit. By comparison, today's announcement equates to reinstating approximately 60.8% of that intended monthly distribution.

A re-evaluation will be conducted next month to determine the amount of the distribution that can be paid to unitholders of record as of May 31, 2008.

A unitholder that has continually held units since inception has received a total of $0.53 per unit.

Contact Information

  • Copernican Capital Corp.
    Client Service Department
    (905) 319-4922